Investors' Soapbox PM

Banks That May Cut Dividends

Sterne Agee cites New York Community and People's United.

November 20, 2013

Sterne, Agee & Leach

After the close Tuesday, Valley National Bancorp announced a 32% cut in their dividend.

This reduced Valley National's (ticker: VLY) (rated at Neutral) 2014 payout ratio from 117% to 76%, still well above the 32% level for all banks over $10 billion in assets. Two other Northeast banks that we believe could be in...